Jack Thursday - Ordinary and Necessary (LA 1572)

Transcript:

Jack Butala:

Steve and Jill here.

Jill DeWit:

Howdy.

Jack Butala:

Welcome to the Land Academy Show, entertaining land investment talk. I'm Steven Jack Butala.

Jill DeWit:

I'm Jill DeWit, broadcasting from cool, incredible Scottsdale, Arizona.

Jack Butala:

Today is Jack Thursday, and I'm going to talk about ordinary and necessary as it applies to business expenses and Jill's going to fall asleep.

Jill DeWit:

That's exactly right.

Jack Butala:

Before we get into it, let's take a question posted by one of our members on Landinvestors.com online community, it's free. If you're already a land academy member, please join us on discord.

Jill DeWit:

Aaron wrote, "I stopped telling my friends, outside of this group, I used to try and motivate friends to get into the land game with these crazy profit stories, but they're all like, "What's the catch? Are you dealing drugs? Are you on drugs, et cetera?" That's funny. "We can give someone a winning lottery ticket, but they're too skeptical to even check the damn numbers." This is what you guys call rich guy problems? This is hilarious.

Jack Butala:

If that's your question? Yes.

Jill DeWit:

Oh my gosh.

Jack Butala:

This is Aaron and Liz, Aaron.

Jill DeWit:

Oh, good. That's so funny.

Jack Butala:

Not using their last name.

Jill DeWit:

Okay, thank you.

Jack Butala:

Long, long time members. I had him on the show a couple of times. They're a lot of fun.

Jill DeWit:

Isn't that true though? We had this discussion the other day in Career Path. We were talking about things that people just don't get. It was along these lines too. We were talking about investing. We were talking about if you need money, you get going, you're starting to do great, you're doing some deals, you start to share with your family members, "You're not going to believe what I did. I asked made $20,000 last week." Next thing you know, they're saying, "Can I give you $5,000 and you do that for me?" You have to be careful, because it just always, in our situation, backfires. We don't do that anymore. It's better to say, "If you want to do this, just go do it." Then, like Aaron shared, most people don't get it.

Jack Butala:

I have couple of things to say. I stopped telling people what we do for a living a lot of years ago. It's not possible. For a while, my answer was that we buy real estate, we buy land, and then we sell it for more. They look at you cross-eyed. The super smart ones will say, "How do you do that?" I send a bunch of offers out. Thousands and thousands of blind offers to everybody who owns land in the area for a price that I'm willing to buy it, then I see who calls me back. It ends there for the smart people.

Jack Butala:

Here's my second point. I learned the hard way that when people get to know you, whether it's online like this, or whether it's in person, and they see that you're successful, you can put a couple of sentences together, speak in full sentences and your grammar's reasonably okay, they want to be a part of it. They don't want to send out letters. They don't care about real estate. That's all just noise to them. The real work is noise and difficult. They just want the fun stuff. I just want to live in a house on a beach, have a fast car or a hot girl like Jill. They don't care. Here's what I learned. Ultimately, they have to find us. We can't find them. They have to find us, because they're interested. Members who are successful find us because they're interested in real estate, money, land, data, and the whole process of all this. Not-

Jill DeWit:

Perfect.

Jack Butala:

"Wow, I love your car! How'd you get it?"

Jill DeWit:

That's the wrong approach.

Jack Butala:

It won't work.

Jill DeWit:

That's, often, how it is. They're like, "I can learn this too. My cousin's a real estate agent. Is that all it is?"

Jack Butala:

Jill, you're nailing it on the head. Nailing it.

Jill DeWit:

I'm like, "That's not it at all.